Funding you earn now, next payment 02:00 UTC+0.0097%/8h= +10.6% APRnext payment +$0.12 per $10,000 · paid last 24h +0.023%
Price spread now: GMX against Backpack+0.066%7-day average +0.069% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)+0.129%+$13 on $10k
+Price spread, last 3 days (all we have)−0.004%$0 · spread now +0.066%, 7d avg +0.069%
=The price spread sits at its 7-day average of +0.069%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack BTC_USDC_PERP | 85,669 | 0.0100 | pay 0.0013% / 1h | 55m 34s | $35.1M | $162.3M | 75x |
| Short | GMX BTC/USD [WBTC.b-USDC] | 85,725.8 | L +0.0204% / S −0.0197% | get 0.0025% / 1h | 55m 34s | $13.9M | — | 200x |
Backpack BTC_USDC_PERP
GMX BTC/USD [WBTC.b-USDC]Funding history
latest
Range statsloading…
Price spread between the two exchanges
GMX against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $20.39
- Price spread: +0.066% → +0.069%
- −$0.3
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee GMX: 6 bp × 2 orders
- −$12
- Net
- −$1.91
- Costs to cover
- 0.220%
- Break-even
- 7.7 days
Slippage unknown: Backpack: live order book, 4 min ago; GMX: no order-book sample. Net counts fees only.
Cost to enter
taker fee + slippage from the mid, one side; closing costs about the same again| Leg | Half-spread | $10k | $100k | $1M | $5M |
|---|---|---|---|---|---|
| Buy Backpack live order book, 4 min ago | 0.01 bp | 5.0 bp −$5 | 5.0 bp −$50 | 5.9 bp −$590 | 27.5 bp −$13.8K |
| Sell GMX no order-book sample | — | — | — | — | — |
GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
BTC on 56 venues
lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Phoenix BTC | −0.0129% | 1h | 85,869 | +0.233% | $2.2M | $10.4M | 40x | as long as short |
| Hotstuff BTC-PERP | −0.0080% | 1h | 85,699 | +0.035% | $8K | $3K | 50x | as long as short |
| 01 Exchange BTCUSD | −0.0056% | 1h | 85,662.7 | −0.007% | $364K | $2.3M | 50x | as long as short |
| ApeX Omni BTCUSDT | −0.0038% | 1h | 85,878.6 | +0.245% | $140.4M | $320.6M | 100x | as long as short |
| dYdX BTC-USD | 0.0000% | 1h | 85,703.4 | +0.040% | $16.8M | $20.5M | 50x | as long as short |
| Perpl BTC | 0.0000% | 43m | 85,735 | +0.077% | $526K | $21.3M | 6.7x | as long as short |
| gTrade (Gains Network) BTC/USD | L +0.0004% / S −0.0004% | 1h | 85,731.4 | +0.073% | $36.6M | — | 200x | as long as short |
| Injective BTC/USDC PERP | +0.0020% | 1h | 85,944 | +0.321% | $341K | $26.9M | 52x | as long as short |
| Aster BTCUSDT | +0.0028% | 8h | 85,665.3 | −0.004% | $497.5M | $1.13B | 200x | as long as short |
| HTX BTC-USDT | +0.0041% | 8h | 85,681.9 | +0.015% | $2.27B | $965.2M | 200x | as long as short |
Phoenix BTC
Hotstuff BTC-PERP
01 Exchange BTCUSD
ApeX Omni BTCUSDT
dYdX BTC-USD
Perpl BTC
gTrade (Gains Network) BTC/USD
Injective BTC/USDC PERP
Aster BTCUSDT
HTX BTC-USDTShow all 56 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| KuCoin XBTUSDTM | +0.0044% | 8h | 85,672 | +0.004% | $811.6M | $723.2M | 125x | as long as short |
| RISEx BTC/USDC | +0.0044% | 1h | 85,679.3 | +0.012% | $8.1M | $42.6M | 25x | as long as short |
| Reya BTCRUSDPERP | +0.0051% | 1h | 85,721.7 | +0.061% | $6.7M | $145.9M | 40x | as long as short |
| BingX BTC-USDC | +0.0053% | 8h | 85,658.2 | −0.013% | — | $15.4M | — | as long as short |
| Bitget BTCUSDT | +0.0065% | 8h | 85,664.9 | −0.005% | $2.94B | $5.11B | 150x | as long as short |
| Deribit BTC-PERPETUAL | +0.0067% | 1h | 85,733.1 | +0.075% | $899.2M | $1.52B | 50x | as long as short |
| Binance BTCUSDT | +0.0080% | 8h | 85,666.9 | −0.002% | $9.32B | $24.50B | 150x | as long as short |
| MEXC BTC_USDT | +0.0080% | 8h | 85,684.8 | +0.018% | $5.07B | $5.63B | 500x | as long as short |
| Aevo BTC-PERP | +0.0080% | 1h | 85,716.7 | +0.056% | $2.5M | $1.8M | 20x | as long as short |
| SoDEX BTC-USD | +0.0080% | 1h | 85,700 | +0.036% | $60.0M | $338.2M | 40x | as long as short |
| BloFin BTC-USDT | +0.0082% | 8h | 85,810.3 | +0.165% | $413.7M | $655.0M | 150x | as long as short |
| Gate BTC_USDT | +0.0084% | 8h | 85,683.9 | +0.017% | $5.67B | $10.29B | 200x | as long as short |
| Lighter BTC | +0.0096% | 1h | 85,677 | +0.009% | $169.7M | $971.2M | 50x | as long as short |
| Lighter RH BTC | +0.0096% | 1h | 85,681.6 | +0.015% | $23.2M | $144.6M | 50x | as long as short |
| Popdex BTCUSDT | +0.0096% | 1h | 85,662 | −0.008% | $8.4M | $52.4M | 100x | as long as short |
| Katana Perps BTC-USD | +0.0100% | 8h | 85,648 | −0.025% | $197K | $7.4M | 50x | as long as short |
| Paradex BTC-USD-PERP | +0.0100% | 8h | 85,710.9 | +0.049% | $3.8M | $8.8M | 50x | as long as short |
| Nado BTC-PERP | +0.0100% | 1h | 85,666.9 | −0.002% | $21.9M | $227.9M | 50x | as long as short |
| Hyperliquid BTC | +0.0100% | 1h | 85,741 | +0.084% | $3.75B | $5.03B | 40x | as long as short |
| Pacifica BTC | +0.0100% | 1h | 85,700.8 | +0.037% | $40.7M | $566.3M | 50x | as long as short |
| Bybit BTCUSDT | +0.0100% | 8h | 85,681.1 | +0.014% | $5.23B | $9.76B | 150x | as long as short |
| OKX BTC-USDT-SWAP | +0.0100% | 8h | 85,671.7 | +0.003% | $2.53B | $12.49B | 100x | as long as short |
| Ondo Perps BTC-USD.P | +0.0100% | 1h | 85,669 | 0.000% | $3.9M | $17.8M | 25x | as long as short |
| Arcus BTC-USD | +0.0100% | 1h | 85,662.5 | −0.008% | $7.0M | $97.4M | 40x | as long as short |
| Bulk BTC-USD | +0.0100% | 1h | 85,888.3 | +0.256% | $579.3M | $92.3M | 40x | as long as short |
| Backpack BTC_USDC_PERPlong | +0.0100% | 1h | 85,669 | long leg | $35.1M | $162.3M | 75x | |
| Variational Omni BTC | +0.0100% | 8h | 85,711.3 | +0.049% | $155.5M | $555.5M | — | as long as short |
| edgeX BTCUSDC | +0.0100% | 4h | 85,859.5 | +0.222% | $277.9M | $937.0M | 100x | as long as short |
| GRVT BTC_USDT_Perp | +0.0100% | 8h | 85,834.8 | +0.194% | $215.6M | $161.8M | 50x | as long as short |
| StandX BTC-USD | +0.0100% | 1h | 85,864.6 | +0.228% | $30.4M | $206.0M | 40x | as long as short |
| Vest BTC-PERP | +0.0100% | 1h | 85,736.8 | +0.079% | — | $11.8M | 50x | as long as short |
| Polymarket Perps BTC-USD | +0.0100% | 1h | 85,729 | +0.070% | $11.0M | $14.1M | 50x | as long as short |
| Bullet BTC-USD | +0.0100% | 1h | 85,718.6 | +0.058% | $189K | $3.3M | 20x | as long as short |
| Orderly PERP_BTC_USDC | +0.0100% | 8h | 85,694.7 | +0.030% | $2.4M | $9.1M | 100x | as long as short |
| Bluefin BTC-PERP | +0.0100% | 1h | 85,729.2 | +0.070% | $178K | $700K | 40x | as long as short |
| Derive BTC-PERP | +0.0100% | 1h | 85,712.4 | +0.051% | $30.0M | $57.4M | 15x | as long as short |
| SunX BTC-USDT | +0.0100% | 8h | 85,682.9 | +0.016% | $3.2M | $5.7M | 100x | as long as short |
| Phemex BTCUSDT | +0.0100% | 8h | 85,689.1 | +0.023% | $153.8M | $475.2M | 150x | as long as short |
| Extended BTC-USD | +0.0104% | 1h | 85,648.8 | −0.024% | $45.3M | $225.1M | 50x | as long as short |
| Jupiter Perps WBTC-PERP | L +0.0104% / S +0.0056% | 1h | 85,780.8 | +0.131% | — | $101.0M | 500x | as long as short |
| Coinbase International BTC-PERP-INTX | +0.0112% | 1h | 85,725 | +0.065% | $131.4M | $5.25B | 50x | as long as short |
| Hibachi BTC/USDT-P | +0.0120% | 1h | 85,854.8 | +0.217% | $709K | $8.0M | 30x | as long as short |
| Kraken Futures PF_XBTUSD | +0.0146% | 1h | 85,719.2 | +0.059% | $185.8M | $963.9M | 100x | as long as short |
| Aftermath Perps BTCUSD | +0.0163% | 1h | 85,937.1 | +0.313% | $77K | $217K | 20x | as long as short |
| Kalshi KXBTCPERP | +0.0203% | 8h | 85,770 | +0.118% | $9.9M | $767.7M | 6.4x | as long as short |
| GMX BTC/USD [WBTC.b-USDC]short | L +0.0204% / S −0.0197% | 1h | 85,725.8 | +0.066% | $13.9M | — | 200x |
KuCoin XBTUSDTM
RISEx BTC/USDC
Reya BTCRUSDPERP
BingX BTC-USDC
Bitget BTCUSDT
Deribit BTC-PERPETUAL
Binance BTCUSDT
MEXC BTC_USDT
Aevo BTC-PERP
SoDEX BTC-USD
BloFin BTC-USDT
Gate BTC_USDT
Lighter BTC
Lighter RH BTC
Popdex BTCUSDT
Katana Perps BTC-USD
Paradex BTC-USD-PERP
Nado BTC-PERP
Hyperliquid BTC
Pacifica BTC
Bybit BTCUSDT
OKX BTC-USDT-SWAP
Ondo Perps BTC-USD.P
Arcus BTC-USD
Bulk BTC-USD
Variational Omni BTC
edgeX BTCUSDC
GRVT BTC_USDT_Perp
StandX BTC-USD
Vest BTC-PERP
Polymarket Perps BTC-USD
Bullet BTC-USD
Orderly PERP_BTC_USDC
Bluefin BTC-PERP
Derive BTC-PERP
SunX BTC-USDT
Phemex BTCUSDT
Extended BTC-USD
Jupiter Perps WBTC-PERP
Coinbase International BTC-PERP-INTX
Hibachi BTC/USDT-P
Kraken Futures PF_XBTUSD
Aftermath Perps BTCUSD
Kalshi KXBTCPERP